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Chinese Tech Stocks Fall 20% in Hong Kong From October High

Chinese tech stocks listed in Hong Kong extended their slump from a high in October to about 20%, as investors reduced positions amid rising geopolitical risks and caution toward earnings.

The Hang Seng Tech Index dropped 3.2% on Thursday, with JD.com Inc and Xiaomi Corp among the top contributors to the gauge’s slide. The sector’s weakness weighed on a broader benchmark of Chinese shares listed in Hong Kong, which fell 2.2%.

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